America is a "Wal-Mart market," said Goings. People don't care
about quality – only price.

That's why cabs in New York are "filthy" and "junk" compared to
the Mercedes and Audi cabs that you find across the pond in
Germany, he said.

Here's what he had to say on
the call when asked about the company's business in the
U.S.:

One of the issues – this is going to be a hill for us to
climb in the U.S. — we are a high-quality product and a
brand.

Why do we do better in Europe than we do in the U.S.? Hey,
take a look at the average brand of cab that you get in New York
City, I mean, they're filthy, they're junk. Get in a cab over
here; it's a Mercedes or an Audi.

The USA is basically a Wal-Mart market. Our top tier
products like the Microsteamer or the Ultraplus that are 100 year
old products hard to sell them in the U.S. because that's a
discount market over there. I found this out in my former time in
the Beauty business you cannot staff the U.S. and the UK or boots
markets, they buy price.

Europe buys quality, Japan quality. And our issue is how do
we find the right product mix for the U.S. to make it happen
there. And I've got to tell you [Merrill Lynch analyst Olivia
Tong] it is challenging.